Lloyd's broker Clegg Gifford is planning to hit the acquisition trail and has four potential purchases in the pipeline.

The broker expects to spend about £750,000 on a series of deals.

Chairman Roy Clegg, who owns 91% of the company, said four UK broker acquisitions were under scrutiny.

All were small specialists fitting in with Clegg Gifford's strengths in retail broking with a focus on fashion trade and transit risks.

He expected three of the deals to be completed by the end of the year.

The company spun off its former sister organisation, motor trade specialist Tradex, last year to become an independent operation.

The company also has a new 11,000 square foot head office in Romford which is due to open in January.

The split with Tradex appeared in the company's accounts for 2002, which showed £2.4m turnover from discontinued operations out of a total turnover of £4.7m. The total grew by 32% from £3.6m in 2001.